Russell Investments Group Ltd. Buys 28,444 Shares of Crown Holdings, Inc. (NYSE:CCK)

Russell Investments Group Ltd. boosted its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 577,729 shares of the industrial products company's stock after acquiring an additional 28,444 shares during the period. Russell Investments Group Ltd. owned approximately 0.48% of Crown worth $47,772,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CCK. Farther Finance Advisors LLC grew its position in shares of Crown by 160.0% in the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 256 shares during the period. GAMMA Investing LLC increased its position in shares of Crown by 84.2% during the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company's stock worth $47,000 after acquiring an additional 261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Crown by 20.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock worth $57,000 after acquiring an additional 117 shares during the period. Venturi Wealth Management LLC lifted its position in Crown by 48.6% in the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company's stock valued at $68,000 after acquiring an additional 269 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Crown by 325.1% in the 4th quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company's stock worth $70,000 after purchasing an additional 647 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analysts Set New Price Targets

A number of equities analysts have recently commented on CCK shares. Bank of America reduced their price objective on shares of Crown from $107.00 to $101.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Wells Fargo & Company boosted their price target on Crown from $86.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. StockNews.com raised Crown from a "hold" rating to a "buy" rating in a report on Friday, February 7th. UBS Group lowered their target price on shares of Crown from $113.00 to $108.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Finally, Morgan Stanley upgraded shares of Crown from an "equal weight" rating to an "overweight" rating and cut their price target for the company from $109.00 to $105.00 in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Crown currently has an average rating of "Moderate Buy" and an average target price of $106.00.

Crown Stock Performance

Crown stock traded up $1.72 during trading hours on Friday, hitting $83.75. The company had a trading volume of 846,487 shares, compared to its average volume of 1,199,842. The firm has a 50-day moving average of $87.56 and a 200 day moving average of $88.83. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. The firm has a market cap of $9.80 billion, a PE ratio of 23.53, a PEG ratio of 1.56 and a beta of 0.79. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $98.46.

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. On average, sell-side analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.24%. This is a positive change from Crown's previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, March 18th. Crown's dividend payout ratio (DPR) is currently 29.21%.

About Crown

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.